Besides, there's nothing wrong with increasing rent that can't be solved with better public housing provision.
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
That's a cute story, but it does not explain the recent push to expand the "ownership society."
You live in the pwn3rship society.
(part of the ET's ClassicalTM Series)
The housing bubble has been indeed very useful: unlike the previous Internet bubble that only enrolled the stock owning people, housing bubble allows to enroll just about everyone. And this "wealth effect" was sorely needed to offset wages than have been stagnant or declining since "Morning in America". Europeans think a hundred miles is a long way. Americans think a hundred years is a long time.
